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X Ltd. Has 40,000, 9% Debentures of Rs. ...

X Ltd. Has 40,000, `9%` Debentures of Rs. 100 each outstanding as on 31st March, 2018. These debentures are due for redemption on 31st March, 2019. Debentures Redemption Reserve has a balance of Rs. 5,00,000 on 31st March, 2018.
Pass Journal entries at the time of redemption of debentures.

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JOURNAL OF X LTD.

`{:("Debentures Redemption Reserve required (25% of Rs. 40,00,000)",,,"Rs.10,00,000"),("Less: Existing balance in DRR",,,"Rs.5,00,000"),("Amount transferred to Debentures Redemption Reserve",,,ulbar(ul"Rs.5,00,000")):}`
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TS GREWAL-COMPANY ACCOUNTS REDEMPTION OF DEBENTURES-EXERCISE
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